Helping you set up a trust
Setting up a trust is a way of giving a gift of financial value to someone else. There are different types of trust and the right one for you will depend upon your circumstances. We will listen to you to understand your unique wishes and explain the options available to you with clarity and care. Our specialist team of trust solicitors will give you bespoke advice on the most beneficial trust for you, with your best interests at hearts.
Commercial
Personal
- Administration of Estates
- Adoption
- Appeals before the First Tier and Upper Tier Tribunal (Immigration and Asylum Chamber)
- Applications to join British or settled residents
- Applying for British citizenship
- Applying for Probate
- Buy to let
- Buying a home
- Changing Your Name
- Civil Partnerships
- cohabitation agreements
- Contentious probate
- Conveyancing
- Court of Protection
- Disputes involving children
- Divorce
- Domestic abuse
- Employment law
- Equity release
- Family Law
- Financial Remedy Proceedings
- Financial settlements
- First registration
- Human Rights applications
- Immigration law
- Indefinite Leave to Remain
- Inheritance Disputes
- Inheritance tax planning
- Landlord and tenant
- Lease extensions
- Litigation and dispute resolution
- Managing a trust
- Military Hearing Loss
- Powers of Attorney
- Prenuptial agreements
- Remortgaging
- Selling your home
- Seperation agreements
- Setting up a Trust
- Transfer of Equity
- Unmarried Couples
- Visitor visas to the UK
- Wills, trust and probate
- Work visas and sponsorship
- Writing a Will
Commercial
- Can you explain the new inheritance tax laws to me?
- What is commercial litigation?
- What do I do about tenants sub-letting?
- How many specialities does your team have?
- How long have you been practising in this field?
- What are the laws on paternity leave?
- Can you help me decide on insolvency for my company?
- Will my trademark stand in EMEA?
- How long does a merger take?
- How do I protect myself from negligence?
- I have a question on property litigation
Personal
- What time should I allow for conveyancing?
- How are assets split in a divorce?
- I think I was unfairly dismissed - can you help?
- What are your main Family Law services?
- Immigration laws have changed - help!
- My landlord has just sold the property - what are my rights?
- I've been served an eviction notice - please help!
- My neighbour is claiming my land - who is right?
- I have tinitus from army service - can I get compensation?
- Can you adivise on probate?
What are the benefits of setting up a trust?
A trust is a legal arrangement where you can give assets (money, property or investments) to another person known as the beneficiary. They are held and managed by a trustee. Trusts allow to you pass on assets while you’re still alive, or after your death. They are a means of protecting family assets, and a way of giving a gift of value to a minor. Most trusts are not subject to inheritance tax so are a way of keeping your wealth within your family.
You will be allocated a member of our team who will begin with a conversation about your hopes and intentions. They will be your trusted guide throughout the process which will involve selecting the type of trust that best suits your circumstances. There are various elements which need completing from drafting trust documents and appointing trustees, to transferring assets to beneficiaries. We will simplify the legal jargon, and ensure you feel informed and confident throughout.
Why choose
CWC Solicitors?
Our top priority is that you feel supported and confident throughout the sensitive inheritance tax process. You will be allocated one of our specialist solicitors who will be your trusted guide from the beginning to the end of the process. You will have direct access to your solicitor who will provide you with regular updates. And, you’ll receive personalised care and attention to ensure your wishes are reflected.
Frequently asked questions
Still unsure or need something explained properly? Contact us, and we’ll guide you through it.
1. What is a trust and how can it secure my family's future?
A trust is a legal arrangement where assets are held and managed on behalf of beneficiaries by a trustee. Trusts ensure assets are protected and distributed according to your wishes, potentially reducing inheritance tax liabilities and providing financial support to your loved ones.
2. Do I need a lot of assets to set up a trust?
No, there is no minimum value for a trust, but as there are cost implications with the creation and management of a trust, it’s value should warrant these costs.
3. Can I change the terms of a trust after it is set up?
It depends on the type of trust. Some trusts, like living trusts, can be amended or revoked, while others, such as irrevocable trusts, generally cannot be changed once established. Our solicitors will discuss your hopes and intentions to choose the most suitable trust type for your needs.
4. Who can act as a trustee, and how do I choose one?
A trustee can be a trusted individual or a professional entity. Selecting a trustee is an important decision and should be someone who is reliable, financially astute, and ideally has an understanding of your family dynamics. Depending on the type of trust, it may be a legal requirement to have appoint two trustees.
5. Are there different types of trusts to choose from?
Yes, there are many types of trusts, including discretionary trusts, life interest trusts, bare trusts, fixed interest trusts, and charitable trusts. Each trust has its own advantages and purposes. We will help you understand the options and advise on the right trust for you.
6. How can I ensure my trust aligns with my Will?
It’s important that your trust compliments your Will to ensure your wishes are fulfilled. We will conduct a comprehensive review of your Will arrangements to ensure it aligns with your trust intentions.
7. What tax implications should I be aware of when setting up a trust?
Trusts can have various tax implications, including inheritance tax, capital gains tax, and income tax. We’ll explain everything in a clear and concise way and provide strategies to minimise potential tax burdens.
8. How long does it take to set up a trust?
The timeframe can vary depending on the complexity of the trust and how quickly all necessary information is provided. Typically, setting up a trust takes a three to eight weeks. We aim for a swift but thorough process.
9. How do I fund a trust and what assets can I include?
You can fund a trust with various assets, including money, property, investments, or life insurance policies. We’ll explain the process of transferring assets into your trust.
10 If I set up a trust, will it affect my eligibility for state benefits?
Establishing a trust might impact your benefit eligibility, depending on the type of trust and your personal circumstances. We will ensure you’re fully informed about any potential effects so that you can make decisions that best serve your interests.
Related services
Applying for probate
Whether you’re an executor or a beneficiary of a Will, our team of dedicated probate solicitors will support you to feel informed, confident, and at ease. We’re here to simplify the process for you and guide you through each phase with clarity and care.
Inheritance Tax Planning
Our specialist trusts and inheritance tax solicitors have in-depth knowledge about how best to protect your assets for your family when you have passed on. They will give you expert, personalised advice and peace of mind.
LET'S TALK
Request a callback
Our personal law solicitors are both highly experienced and empathetic. Hand over the legal matters to us to handle.